Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 65.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,741 shares of the semiconductor company's stock after selling 12,701 shares during the period. Meeder Asset Management Inc.'s holdings in Qorvo were worth $696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company's stock worth $527,298,000 after acquiring an additional 93,068 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock worth $246,665,000 after acquiring an additional 550,111 shares during the period. Pacer Advisors Inc. increased its holdings in Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company's stock worth $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Qorvo by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company's stock worth $153,558,000 after purchasing an additional 4,386 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after acquiring an additional 487,621 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QRVO shares. Piper Sandler reduced their price target on Qorvo from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Craig Hallum reduced their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Qorvo from $105.00 to $118.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. TD Cowen dropped their target price on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Finally, Needham & Company LLC began coverage on shares of Qorvo in a report on Monday, October 28th. They issued a "buy" rating and a $135.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $102.88.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Stock Down 0.9 %

Shares of QRVO traded down $0.62 during mid-day trading on Wednesday, hitting $65.66. 2,089,309 shares of the company's stock were exchanged, compared to its average volume of 1,434,029. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -44.97, a P/E/G ratio of 5.26 and a beta of 1.49. The stock's 50-day moving average is $91.60 and its 200-day moving average is $103.48. Qorvo, Inc. has a fifty-two week low of $64.98 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm's revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 earnings per share. On average, sell-side analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.